Beamer wrote on Jun 20, 2022, 02:04:

edaciousx wrote on Jun 19, 2022, 17:33:
You can still argue it's inflation proof depending when you bought btc. the returns on btc is pretty insane, especially if you buy during crypto winter.
https://dcabtc.com

just to be transparent, i don't really own any btc. I prefer the volatility of alt coins.

Yes. The returns that only came if another was more foolish than you. That's the whole argument here. There's no inherent value in these coins that give them worth. Alt coins even more so. That you enjoy the volatility because you buy when they're new gold rushes and sell before they're doge is smart speculation, but totally logically incompatible with your view that they're anything beyond desperate get rich quick schemes that don't respond rationally to standard market forces.

They're beanie babies for tech bros. My buddy made $80k on beanie babies in the 90s. He was smart enough to never think they'd replace the dollar.

Beamer wrote on Jun 18, 2022, 14:00:

RedEye9 wrote on Jun 18, 2022, 13:51:
Bitcoin Plummets Below $20,000 for First Time Since Late 2020
Recession Proof, Outsized Returns, Inflation Hedge

Thanks, Brandon! His recession, which is weirdly broader than the US yet clearly his fault, brought down crypto, which was constantly sold to us as being recession-proof.

RedEye9 wrote on Jun 17, 2022, 10:26:
“Bitcoin's backers have always claimed the digital currency would be an "inflation hedge," but in fact, it hasn't behaved that way.” NPR Why cryptocurrencies have gone from the next hot thing to a full-on meltdown

The emperor has no clothes.
Quick, someone start EmperorCoin.

Beamer wrote on Jun 15, 2022, 19:59:

edaciousx wrote on Jun 15, 2022, 19:13:

RedEye9 wrote on Jun 15, 2022, 08:13:
An investment is something you invest in when you hear about investing while you're stuck at home with too much free time on the internet during covid and have covid stimulus bucks burning a hole in your piggy bank.

lol.....

You really shouldn't laugh when you're the one calling a speculation an investment.

Bitcoin really only has first mover advantage. That's its claim to fame. Which is a problem. And it's a speculation. It has no inherent value, therefore it has high risk.

I still can't get over you defining a word with the word.

RedEye9 wrote on Jun 15, 2022, 08:13:
An investment is something you invest in when you hear about investing while you're stuck at home with too much free time on the internet during covid and have covid stimulus bucks burning a hole in your piggy bank.

Beamer wrote on Jun 14, 2022, 20:14:
I mean, a lottery ticket is an investment, but I wouldn't advise you count on it for your retirement

Hardline Mike wrote on Jun 14, 2022, 22:32:

edaciousx wrote on Jun 14, 2022, 20:09:
YYou don't really own the stocks you buy either. You have some digital contract saying you own a portion of a company which isn't really different than crypto, except that ledger isn't public and fraud proof.

The difference here is that despite whatever fuckery happens with stonks, there ARE laws and regulations. Often not as effective as we'd like, unfortunately, but they exist along side a shit ton of legal precedent. Crypto and NFTs raise a lot of questions the law doesn't answer about what you actually own, what exchanges are allowed to do with your coins, and so forth. There are just a lot of ways for these people to absolutely fuck you without breaking a single law or opening themselves up to a single civil judgement.

RedEye9 wrote on Jun 14, 2022, 22:45:
Does this sound right to you?
"I didn't know anything about it until late 2020 and now it's going to be how I invest for retirement"

PT Barnum would be pleased.
https://youtu.be/HaJpYjO136o

The Flying Penguin wrote on Jun 14, 2022, 17:44:

edaciousx wrote on Jun 14, 2022, 17:32:
I'm actually surprised by a lot of the comments here about crypto. This reminds me of when people were laughing at netflix for being worth $7 and fb for being worth $14.

You can't compare Crypto to Stocks.
Yes, you can compare them just the way you compare investing in a house versus stocks versus buying/starting a business. Anything that has the potential to have some kind of a return on your investment is an investment. Also, when you "buy" stock, do you don't even hold the paper that says you own x shares of a company, the exchange holds it for you.

There's a company behind a stock. Sure it may go under, and there's low risk stocks and high risk stocks, but there's a physical company with infrastructure, assets, employees, that produce a service or a product.
There's also a company behind the crypto asset. I think your understanding of crypto is limited to bitcoin. I've been ignoring crypto since 2014 and in late 2020 I really dug into it and found there's a lot of practical uses. Enough for me to have made a $300k bet on crypto at the time, my whole pot from investing in stocks for 7 years.

Crypto is more like gold or oil which is why congress is considering having it regulated as a commodity. But even gold is inherently worth something. It'll never be worthless (well, okay, until they invent transmutation).
Michael Saylor likes to describe BTC as digital gold and ETH as digital oil. I don't agree or disagree with this argument but I do believe gold is a worthless asset to invest in.

Crypto? Crypto is nothing. It's meant to be an electronic token to represent a barter transaction. That's all currency is EXCEPT that currencies have some intrinsic value because they're backed by governments.

I'm not knocking crypto if used for it's intended purpose: a barter transaction directly between two parties.
There's a lot more to Crypto Assets than currency/decentralized finance. Have you looked into DAPPS? Decentralized applications? Smart contracts? NFT uses beyond cute images cause there's a lot of other great uses. I'm not sold on the idea of using x crypto currency to replace USD but I am sold on the idea of a CBDC, central bank digital currency.

But as an investment? On an exchange platform where you don't even actually own the coins? It's an unregulated nighmare at best, and a ponzi scheme at worst.
You don't really own the stocks you buy either. You have some digital contract saying you own a portion of a company which isn't really different than crypto, except that ledger isn't public and fraud proof.

Hardline Mike wrote on Jun 13, 2022, 16:39:

edaciousx wrote on Jun 13, 2022, 16:34:
Kind of funny how everyone is saying great that eth is crashing etc. it won't impact GPU prices, they've already bottomed. I'm excited for these prices cause now I'll be able to accumulate more coins which is what you all should be doing.

If I wanted to piss away money on something useless I'd buy a Star Citizen package.

Xylemon wrote on Jun 4, 2022, 21:27:

Laughing Man wrote on Jun 4, 2022, 12:50:
Please stop using social media as a way to bully a company into doing what you want. How about they do something like create their own game instead of remastering for cash grabs and slapping their name on it as a developer because they "helped."

I wouldn't have worded it this way, but I have to say I actually agree. This kind of business question in the public is really inappropriate and feels like an attempt to peer-pressure Epic Games. However, Nightdive should (or maybe they do) know that Epic has already been letting the community (OldUnreal) handle the code/engine for Unreal 1, so there already has been FREE community efforts/"remasters". OldUnreal runs fine on modern Windows and even has Linux ports, I would trust them over the mixed bag efforts Nightdive have had. Opening the code to System Shock 1 was the best thing ever did imho, their System Shock 1/Strife releases were good, but not much else and a lot of it uses their weird engine instead of the original game code. And don't give them too much credit for their Quake efforts, from what I understand Nightdive just did platform stuff, aka porting it to different systems, which isn't really that special.

I don't get it, why are so many people rushing to buy a proprietary soon-to-be-obsolete version of these games when we have free and/or open community efforts in games like Quake that will out live these "remasters"/re-releases?

Also some others pointed this out too, where is their System Shock game? The one that was Kickstarted over what, 5-6 years ago now? Shouldn't they be more focused on that?

Dreagon wrote on Jun 4, 2022, 15:49:
I loved the original Unreal single player. I would pay good money to get a faithful remake in UE5.

Bodolza wrote on May 13, 2022, 15:42:

WaltSee wrote on May 13, 2022, 14:49:
He wants to discover whether Twitter is continuing to lie about the ratio of people to bots who hold Twitter accounts.

He made his intention to buy well before the "5%" number was released, so he obviously didn't actually care that much about it. This is a blatant excuse on Musk's part. But still, it's good to see you're consistent in defending billionaires.

ForgedReality wrote on May 4, 2022, 18:05:
No good games, capitalism killing people, confederate fascists running around spreading a deadly virus, totally non-functional healthcare system, millions laid off... Gee, I wonder what could go wrong! 🤷🤪🙄